Mobile payment is an increasingly popular trend. This makes a ton of sense when we look at the increase in overall mobile activity, from sales to marketing to everyday use. But when it comes to mobile payment, the steady rise is sure to affect everyone from retailers and merchants to those in the gift card business.
In this infographic, by e-complish, we can learn a lot about mobile payment trends and growth. In 2012 mobile payments only amounted to $1.5 million, but by the following year, that number had grown to $4.5 million, showing the exponential growth that the mobile payment industry is currently seeing. The U.S. and China are two of the leading countries in mobile use, meaning that they’ll also be key countries for growth in mobile payments. Sixty one percent of U.S. adults own a smartphone, meaning that mobile payments will likely spread to many of those 61 percent, if they haven’t already.
Mobile payments crept into the payment systems and now have skyrocketed in popularity. It has been predicted that by the year 2025, as much as 20 percent of all purchases will be made on a mobile device. Because of the new trend, we’re also seeing a growth in mobile payment apps and “mobile wallets.” Keep your eye out for larger shifts in technology as we see more and more consumers paying for purchases on their mobile devices.